0
0
0

MFA Incorporated 201 Ray Young Drive Columbia, MO 65201 573-874-5111

CLICK HERE to use the MFA Customer Portal

 
 

 
Printable Page Headline News   Return to Menu - Page 1 2 3 5 6 7 8 13
 
 
US Stocks Fall; Bond Yields Rise       05/12 09:36

   Stocks were broadly lower again Wednesday as investors' concerns about 
inflation grew after government data showed signs of prices increasing across a 
number of goods.

   (AP) -- Stocks were broadly lower again Wednesday as investors' concerns 
about inflation grew after government data showed signs of prices increasing 
across a number of goods.

   The S&P 500 index was down 0.8% as of 10:15 a.m. Eastern. The Dow Jones 
Industrial Average was down 0.6% and the technology-heavy Nasdaq Composite was 
down 1.4%.

   Investors reacted negatively to the Commerce Department's report that showed 
consumer prices rose 0.8% in April, with inflation rising the fastest 
year-over-year since 2008. Investors have been worrying that inflation could 
return after being absent for many years as the economy revs out of the 
recession brought on by the pandemic. However Federal Reserve officials and 
other economists have said moderate inflation may be a good thing in a recovery.

   Investors have worried about inflation since bond yields spiked earlier this 
year, though yields have mostly stabilized since then. The yield on the 10-year 
Treasury did bump up on the inflation report, rise to 1.66% from 1.62% the day 
before.

   Rising inflation makes stocks seem more expensive, particularly high-value 
tech stocks that trade on the potential for their future profits in coming 
years. Apple, Microsoft, Facebook and Amazon were all down 1% or more.

   Energy prices continued to climb following the shutdown of a major gas 
pipeline on the East Coast earlier in the week, and there are now reports of 
gasoline hoarding happening in places like North Carolina. Crude oil prices 
rose 1.7% and wholesale gasoline rose 1.3%.

 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN